I

103D CONGRESS

2D SESSION H. R. 5192

To require the Secretary of the Treasury to mint coins in commemoration

of black revolutionary war patriots.

IN THE HOUSE OF REPRESENTATIVES

OCTOBER 5, 1994

Mr. PAYNE of New Jersey (for himself, Mr. RUSH, Mr. EVANS, Mrs. JOHNSON of Connecticut, Mr. WOLF, Mr. MFUME, Mr. BONIOR, and Mr.

MACHTLEY) introduced the following bill; which was referred to the Committee on Banking, Finance and Urban Affairs

A BILL

To require the Secretary of the Treasury to mint coins

in commemoration of black revolutionary war patriots.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. SHORT TITLE.

4 This Act may be cited as the ‘‘1995 Black Revolu5 tionary War Patriots Commemorative Coin Act’’.

6 SEC. 2. COIN SPECIFICATIONS.

7 (a) $1 SILVER COINS.—The Secretary of the Treas8 ury (hereafter in this Act referred to as the ‘‘Secretary’’)
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1 shall mint and issue not more than 500,000 1 dollar coins,

2 which shall—

3 (1) weigh 26.73 grams;

4 (2) have a diameter of 1.500 inches; and

5 (3) contain 90 percent silver and 10 percent

6 copper.

7 (b) LEGAL TENDER.—The coins minted under this

8 Act shall be legal tender, as provided in section 5103 of

9 title 31, United States Code.

10 (c) NUMISMATIC ITEMS.—For purposes of section

11 5134 of title 31, United States Code, all coins minted

12 under this Act shall be considered to be numismatic items.

13 SEC. 3. SOURCES OF BULLION.

14 The Secretary shall obtain silver for minting coins

15 under this Act only from stockpiles established under the

16 Strategic and Critical Materials Stock Piling Act.

17 SEC. 4. DESIGN OF COINS.

18 (a) DESIGN REQUIREMENTS.—

19 (1) IN GENERAL.—The design of the coins

20 minted under this Act shall be emblematic of the

21 Black Revolutionary War Patriots Memorial.

22 (2) DESIGNATION AND INSCRIPTIONS.—On

23 each coin minted under this Act there shall be—

24 (A) a designation of the value of the coin;

25 (B) an inscription of the year ‘‘1995’’; and
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1 (C) inscriptions of the words ‘‘Liberty’’,

2 ‘‘In God We Trust’’, ‘‘United States of Amer3 ica’’, and ‘‘E Pluribus Unum’’.

4 (b) SELECTION.—The design for the coins minted

5 under this Act shall be—

6 (1) selected by the Secretary after consultation

7 with the Black Revolutionary War Patriots Founda8 tion and the Commission of Fine Arts; and

9 (2) reviewed by the Citizens Commemorative

10 Coin Advisory Committee.

11 SEC. 5. ISSUANCE OF COINS.

12 (a) QUALITY OF COINS.—Coins minted under this

13 Act shall be issued in uncirculated and proof qualities.

14 (b) MINT FACILITY.—Only 1 facility of the United

15 States Mint may be used to strike any particular quality

16 of the coins minted under this Act.

17 (c) PERIOD FOR ISSUANCE.—The Secretary may

18 issue coins minted under this Act only during the period

19 beginning on May 15, 1995, and ending May 15, 1996.

20 SEC. 6. SALE OF COINS.

21 (a) SALE PRICE.—The coins issued under this Act

22 shall be sold by the Secretary at a price equal to the sum

23 of—

24 (1) the face value of the coins;
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1 (2) the surcharge provided in subsection (d)

2 with respect to such coins; and

3 (3) the cost of designing and issuing the coins

4 (including labor, materials, dies, use of machinery,

5 overhead expenses, marketing, and shipping).

6 (b) BULK SALES.—The Secretary shall make bulk

7 sales of the coins issued under this Act at a reasonable

8 discount.

9 (c) PREPAID ORDERS.—

10 (1) IN GENERAL.—The Secretary shall accept

11 prepaid orders for the coins minted under this Act

12 before the issuance of such coins.

13 (2) DISCOUNT.—Sale prices with respect to pre14 paid orders under paragraph (1) shall be at a rea15 sonable discount.

16 (d) SURCHARGES.—All sales shall include a sur17 charge of $10 per coin.

18 SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULA19 TIONS.

20 (a) IN GENERAL.—Except as provided in subsection

21 (b), no provision of law governing procurement or public

22 contracts shall be applicable to the procurement of goods

23 and services necessary for carrying out the provisions of

24 this Act.
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1 (b) EQUAL EMPLOYMENT OPPORTUNITY.—Sub2 section (a) shall not relieve any person entering into a con3 tract under the authority of this Act from complying with

4 any law relating to equal employment opportunity.

5 SEC. 8. DISTRIBUTION OF SURCHARGES.

6 (a) IN GENERAL.—All surcharges received by the

7 Secretary from the sale of coins issued under this Act shall

8 be promptly paid by the Secretary to the Black Revolu9 tionary War Patriots for the purpose of raising an endow10 ment to support the construction of a Black Revolutionary

11 War Patriots Memorial.

12 (b) AUDITS.—The Comptroller General of the United

13 States shall have the right to examine such books, records,

14 documents, and other data of the Black Revolutionary

15 War Patriots Foundation as may be related to the expend16 itures of amounts paid under subsection (a).

17 SEC. 9. FINANCIAL ASSURANCES.

18 (a) NO NET COST TO THE GOVERNMENT.—The Sec19 retary shall take such actions as may be necessary to en20 sure that minting and issuing coins under this Act will

21 not result in any net cost to the United States Govern22 ment.

23 (b) PAYMENT FOR COINS.—A coin shall not be issued

24 under this Act unless the Secretary has received—

25 (1) full payment for the coin;
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1 (2) security satisfactory to the Secretary to in2 demnify the United States for full payment; or

3 (3) a guarantee of full payment satisfactory to

4 the Secretary from a depository institution whose

5 deposits are insured by the Federal Deposit Insur6 ance Corporation or the National Credit Union Ad7 ministration Board.

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